Tanger (SKT) to Release Quarterly Earnings on Tuesday

Tanger (NYSE:SKT) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Tanger to post earnings of $0.50 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Tanger Price Performance

Tanger stock opened at $27.72 on Tuesday. The stock has a market capitalization of $3.03 billion, a P/E ratio of 30.13, a P/E/G ratio of 3.37 and a beta of 1.83. Tanger has a 12-month low of $18.00 and a 12-month high of $29.98. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50-day moving average is $28.35 and its two-hundred day moving average is $26.67.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.275 per share. This is an increase from Tanger’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, April 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.97%. Tanger’s dividend payout ratio is presently 113.04%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SKT shares. Citigroup upgraded Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $33.00 in a report on Friday, March 22nd. Evercore ISI increased their target price on Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, Bank of America raised Tanger from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $24.00 to $31.00 in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Tanger has a consensus rating of “Hold” and an average target price of $29.00.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.